The authority to remove the first auditor before the expiry of term is with__________?

Related Mcqs:

1. The term of the auditor ship of first auditor would be from the date of appointment till________?

   A. the conclusion of statutory meeting
   B. the conclusion of first annual general meeting
   C. the conclusion of next annual general meeting
   D. the date of removal

2. Assuming that it is not the first appointment of the auditor, who is responsible for the appointment of the auditor?

   A. The shareholders in a general meeting
   B. The managing director
   C. The board of directors in a board meeting
   D. The audit committee

3. The auditor has serious concern about the going concern of the company. It is dependent on company’s obtaining a working capital loan from a bank which has been applied for. The management of the company has made full disclosure of these facts in the notes to the balance sheet. The auditor is satisfied with the level of disclosure. He should issue___________?

   A. unqualified opinion
   B. unqualified opinion with reference to notes to the accounts
   C. qualified opinion
   D. disclaimer of opinion

4. How long is the auditor’s term of office?

   A. Until the audit is complete
   B. Until the financial statements are complete
   C. Until the next AGM (Annual General Meeting)
   D. Until the directors remove them

5. When an auditor is proposed for removal from office, which one of the following is he NOT permitted to do?

   A. Circulate representations to members
   B. Apply to the court to have the proposal removed
   C. Speak at the AGM/EGM where the removal is proposed
   D. Receive notification of the AGM/EGM where the removal is proposed

6. When issuing unqualified opinion, the auditor who evaluates the audit findings should be satisfied that the_____________?

   A. Amount of known misstatement is documented in working papers
   B. Estimates of the total likely misstatement is less than materiality level
   C. Estimate of the total likely misstatement is more than materially level
   D. Estimates of the total likely misstatement cannot be made

7. Auditor of a___________company does not have right to visit foreign branches of the company?

   A. Unlimited liability
   B. Manufacturing
   C. Banking
   D. Non­profit making

8. The date on auditor’s report should not be____________?

   A. the data of AGM
   B. later than the date on which the accounts are approved in board’s meeting
   C. earlier than the date on which the accounts are approved by the management
   D. Both A. and B.

9. To test whether sales have been recorded, the auditor should draw a sample from a file of__________?

   A. purchase orders
   B. sales orders
   C. sales invoices
   D. bill of loading

10. Which one of the following is part of the auditor’s function?

    A. Conducting the inventory count
    B. Obtaining and evaluating audit evidence on the financial statements
    C. Calculating the year-end accruals figure for inclusion in the accounts
    D. Providing representations to management